SYDNEY, 3 December 2018: Digital wealth platform InvestSMART (INV), has announced Alan Kohler will be joining the group, after entering into a binding agreement to merge its Eureka Report publishing business with Kohler’s new publishing business, The Constant Investor Pty Ltd (TCI).
The merger is expected to be earnings accretive in FY2019.
Renowned financial journalist Alan Kohler founded InvestSMART’s Eureka Report in 2005 before going on to set up The Constant Investor, which has since amassed over 2,000 members.
Alan is also currently business editor at large of The Australian, finance presenter on ABC News, presenter of the Talking Business channel on Qantas inflight radio, and adjunct professor at Victoria University Business School.
Commenting on the acquisition, InvestSMART Chairman Paul Clitheroe said: “I have known Alan for over 30 years and I am delighted to welcome him to InvestSMART. Alan is a very well liked and respected financial commentator, watched and read by millions of Australians.”
Alan Kohler commented: “The merger of Eureka Report and The Constant Investor is not only a natural coming together of my two products, it will be of tremendous benefit to subscribers, who will get full access to the content of both.
“It means I will return to writing for Eureka Report subscribers after a two and a half year absence, and The Constant Investor subscribers will get access to all of the high quality material that is still being published in Eureka Report.”
Mr Kohler said the merger decision was driven by InvestSMART’s announcement last month that it would become the first investment manager to cap fees at a fixed dollar amount.
“I have been campaigning for years against percentage fees and the way they compound and end up costing investors far too much, and this has been reinforced by the findings of the Royal Commission,” he said.
“InvestSMART’s capping of fees means that for first time there is an investment house that is fully aligned with my own philosophy on this issue, as well as offering complete independence from the banks.”
InvestSMART CEO Ron Hodge said: “Alan’s return will help us reach even more Australians who need help setting, monitoring, and achieving their financial goals".
“Whether investors want to use our innovative digital wealth platform, invest in our capped fee funds, or use the research from Eureka Report and Intelligent Investor, the central idea aligns with Alan’s long-standing priority; to put people in control of their financial futures at a fair and fixed cost.”